Affordability Requirements definition

Affordability Requirements with respect to each Phase, means the requirements set forth in Section 3, below.

Affordability Requirements means the Affordability Ceiling and the Capital Cost Ceiling. “Assumed Financial Close Date” means November 1, 2018.

Affordability Requirements means the Affordability Ceiling and the Capital Cost Ceiling.

Examples of Affordability Requirements in a sentence

• For more information, see IHCDA Program Manual, Lien and Restrictive Covenants & Affordability Requirements Chapter 15.

• A key objective of the Competitive Selection Process is to achieve the Project scope while meeting the Project’s Affordability Requirements.

• Eligibility and Affordability Requirements B1HOME Investment Partnerships Program B1Sales Tax Capital Funds B2B.

• If the homebuyer no longer occupies the property as its primary residence the property: (1) must be resold to another individual or family; who meets the Affordability Requirements; and (2) must be resold at a price that does not exceed twenty-nine percent (29 %) of that individual’s or family’s gross income towards the principal, interest, taxes and insurance for the property on a monthly basis (“Affordable Price”).

• The documents, collectively, authorize your Monitoring Agent and MassHousing to enforce the 40B Affordability Requirements and ensure that annual compliance is carried out.

More Definitions of Affordability Requirements

Affordability Requirements means the mandatory Affordability Ceiling and the mandatory Capital Cost Ceiling.

Affordability Requirements means the terms and requirements set forth in Section 8 of this Agreement and the Declaration of Affordability Requirements approved by Xxxxxx and recorded in the land records of Cleveland County, Oklahoma as a requirement to receive funds under this Agreement.

Affordability Requirements means meeting the income, rent, and other requirements as set forth in Section 5 of this Agreement; additionally, Affordable includes the requirement that monthly rents do not exceed thirty percent (30%) of that amount which represents the percentage of the median Annual Gross Income for the households qualifying under the definition of Eighty Percent Income, Sixty Percent Income, or Thirty Percent Income, as applicable, as defined and set forth by FHFC for the Orlando MSA under the Funding Programs. Each of the one hundred and fifteen (115) Affordable Units in the Project are both rent-restricted and rented to and occupied by individuals whose income is as follows: Phase I: Nineteen (19) of these Affordable Units are set aside for individuals or households whose income is Eighty Percent (80%) or less of the area median income for the Orlando MSA adjusted for family size, forty-three (43) of these Affordable Units are set aside for individuals or households whose income is at Sixty Percent (60%) or less of the area median income for the Orlando MSA adjusted for family size, and fourteen (14) of these Affordable Units are set aside for individuals or households whose income is Thirty Percent (30%) or less of the area median income for the Orlando MSA adjusted for family size, as determined by HUD and FHFC. Phase II: Six (6) of these Affordable Units are set aside for individuals or households whose income is Eighty Percent (80%) or less of the area median income for the Orlando MSA adjusted for family size, Twenty-nine (29) of these Affordable Units are set aside for individuals or households whose income is at Sixty Percent (60%) or less of the area median income for the Orlando MSA adjusted for family size, and four (4) of these Affordable Units are set aside for individuals or households whole income is Thirty Percent (30%) or less of the area median income for the Orlando MSA adjusted for family size, as determined by HUD and FHFC.

Affordability Requirements mean the requirements set forth in Section 5.2.

Affordability Requirements means the Affordability Ceiling and the Capital Cost Ceiling. “Assumed Financial Close Date” means the date set out in Section 4.3.1 of Table 6 of Appendix B. “Authority” means the Vancouver Island Health Authority.

Affordability Requirements means the Affordability Ceiling and the Capital Cost Ceiling. “Authority” means the Vancouver Island Health Authority.

Affordability Requirements means the affordability requirements contained in Sections 3.02 and 3.03 hereof.